Record Sale of Classic Albany Park Apartments Reflects Enduring Relationships
Sale at a Glance
The sale of 4501-4507 N. Kimball Ave. and 3348-3350 W. Sunnyside Ave. in Chicago’s vibrant Albany Park marked a powerful chapter in local multifamily investment. On March 27, 2025, Triton Realty Group orchestrated the $2,562,500 transaction for this 19-unit apartment building, achieving a price of $131,578 per unit. The deal, led by President & Founder Matthew Fritzshall representing the buyer and Senior Advisor Jurgen Frank representing the seller, stands out for its deep roots in community and client loyalty. More than just numbers, this sale is a testament to trust built over decades.
Sale Details
This transaction brought together lasting partnerships and strategic execution in a coveted Chicago neighborhood.
Sale Price: $2,562,500 ($131,578 per unit)
Date of Sale: March 27, 2025
Units: 19 apartments
Brokerage/Team: Triton Realty Group; Matthew Fritzshall (buyer representative), Jurgen Frank (seller representative)
Legacy: Second time the property was sold between the same families and brokers, underscoring long-term trust
Property Highlights
The building offers classic Chicago architecture with features that invite imagination and future growth.
Spacious Layouts: Large 4-room and 5-room apartments, ideal for flexible unit conversion and value-add strategies
Recent Upgrades: Select common areas, units, windows, and masonry have been updated for modern appeal and efficiency
Historic Character: Family-held asset for over 30 years, maintaining a connection to the area’s rich heritage
Key Investment Features
This asset’s appeal comes from both its tangible improvements and its potential for further transformation.
Value-Add Opportunity: Unit type versatility enables conversion options to maximize returns
Prime Location: Situated in Albany Park, a sought-after neighborhood with strong rental demand and community vibrancy
Proven Longevity: Demonstrated history of stable ownership and consistent execution by trusted professionals
Market Strategy and Positioning
This sale embodies the power of relationships and strategic foresight. Seven years ago, the same brokers brought together buyer and seller for the property’s first transfer after decades of family ownership. Now, as the original seller’s family entrusted the same team to guide the next chapter, the transaction celebrates loyalty, continuity, and mutual respect. Triton Realty Group’s nuanced approach—honoring legacy while highlighting untapped value—created a compelling narrative that resonated with both sides, ensuring a seamless, mutually rewarding close.
Frequently Asked Questions (FAQs)
This transaction in Albany Park sparked curiosity and interest among investors and the local community.
Q: What makes this property stand out among other Albany Park apartment buildings?
A: Its combination of expansive unit layouts, recent capital improvements, and a history of meticulous ownership set it apart as a rare find in the neighborhood.
Q: How did the brokers leverage their past relationship to benefit the deal?
A: The long-standing trust between the brokers and both families enabled smooth negotiations, minimized friction, and ensured all parties felt confident in the process.
Q: What investment strategies are possible with this asset?
A: The flexible floor plans allow for unit type conversions, presenting a clear path for value-add repositioning and increased rental income.
Q: Why is Albany Park considered a strong rental market?
A: Albany Park’s diverse community, access to transit, and growing amenities drive consistent rental demand and stable returns for multifamily properties.
Want to achieve results like this?
Contact Triton Realty Group, Matthew Fritzshall, President & Founder to discuss your property goals in Chicago.
